| NON-LIFE
INSURANCE |
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Burglary
Policy : |
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Policy
is designed to cover business premises
only like godown, factory, office, etc.
Loss or damage to the property insured
by theft following upon actual, forcible
and violent entry into the premises. Damage
to the premises following upon entry as
above or any attempt thereat. |
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Contractors
All Risk Policy : |
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This
policy is specially designed to give financial
protection to the Civil Engineering Contractors
in the event of an accident to the civil
engineering works under construction.
· Section I-Material Damage-covering
physical loss, damage or destruction of
the property insured by any cause, other
than those specifically excluded in the
policy.
· Section II-Third Party Liability-covering
the legal liability falling on the insured
contractor as a result of bodily injury
or property damage belonging to a third
party. |
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Contractors
Plant and Machinery Policy : |
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This
policy covers all different types of machinery
used for handing material or construction.
The policy covers the machinery whilst
they are in operation or at rest or whilst
being dismantled for the purpose of cleaning
or overhauling or whilst being shifted
within the premises or during subsequent
re-erection, but in any case only after
successful commissioning. |
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Electronics
Equipment Policy :
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This
is a specially designed policy which covers
accidental loss or damage to electronic
equipment. This policy can be taken by
the owner, lessor or hirer of electronic
equipment. |
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Fire
Policy : |
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Fire
insurance is one of the oldest form of
insurance and considered as a basic requirement
for security. The fire insurance is meant
to cover erected fixed assets and movable
assets whilst lying in a particular location
and declared accordingly for insurance.
Assets with intrinsic economic value e.g.
Buildings, Plant & Machinery, equipments,
electrical installations, furniture, fixtures,
fittings, raw material, finished goods,
household goods etc. may be insured. |
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Machinery
Breakdown Policy :
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This
policy is extremely important for everyone
who operates machinery. Large enterprises
using large units and fully automated
production plants definitely need to be
covered under this policy.
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Besides,medium-sized
and small enterprises also need this policy
since a single machine failure at a crucial
time may have serious financial and economic
consequences. The policy serves as an
'accident' insurance for the machinery
through its nature. It covers unforeseen
and sudden physical losses or damages
to the insured items necessitating their
repair and/ or replacement. |
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Marine-cum-Erection
/ Storage-cum-Erection Policy :
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This
is a comprehensive policy covering all
physical risks which a project is exposed
to right from the warehouse of the supplier
of equipments - whether imported or indigenous
- to its erection, testing and commissioning
at the site. |
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| “Insurance
is the subject matter of solicitation” |
